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[quote][blue]From Brian Kettle-one of our senior member of Finance Community at SI-has now his own teaching biz in the subject of islamic finances and thankfully keeps us updated as follows:[/blue] [purple] Islamic Bonds (Sukuk) course taught at your institution Course Tutor Brian Kettell M.Sc. (Econ) Announcing an intensive 2/3 day workshop covering the most important elements of Islamic bonds (Sukuk) - to be taught in -house.[/purple] The Sukuk industry has experienced a phenomenal growth over the last 5 years. From practically being non-existent a decade ago the industry is now worth over $100 billion. There is over $800 billion of reserves that needs to be invested in accordance with Shariah principles and the Sukuk market has been reaping the benefit of this liquidity. The variety and scale of the projects that can be financed utilizing this model has ensured its continued buoyancy. This increasingly popular mode of finance has now crossed over beyond the boundaries of Islamic Jurisdictions. In 2004 the German State of Saxony issued a Sukuk in order to attract finance from the Middle East to the region and the first U.S. Sukuk has recently been issued for the financing of the East Cameron Gas Field. Furthermore with the Japan launching their own Sukuk this year and the changes in taxation laws in the U.K. to encourage Sukuk issuance, this mode of finance is set to become a global phenomena. Indeed the runaway success of Sukuk and its asset-backed nature have established a completely new asset class which has combined Sharia compliance with returns competitive with that of their conventional counterparts. Sukuk provide a relatively easy way for western companies to tap into Islamic finance pools as well as allowing Middle Eastern governments and corporates to attract western finance. The development of the Islamic finance industry has been staggering and the Sukuk instrument has found immense appetite within non-Islamic financial jurisdictions . Course Description This course examines some of the key elements involved in the evolution of Sukuk and the securitization of Islamic capital markets. The topics covered include the following: Principles of securitisation, conventional and Islamic The Sharia requirements for securitisation AAOIFI Sukuk standards Rating Sukuk Sukuk Structure * Evolution & Definition * Essential difference between conventional Bonds & Sukuk * Essential difference between conventional Securitized Bonds & Sukuk * Risk Factors Types of Sukuk * Ijara Sukuk * Mudaraba Sukuk * Istisna Sukuk * Musharaka Sukuk * Salam Sukuk * Murabaha Sukuk Case Studies Dubai Ports World Convertible Musharaka Sukuk Nakheel Convertible Ijara Sukuk Khazanaha Exchangeable Sukuk Workshop Facilitator Brian Kettell has recently returned from working in Bahrain as an Adviser to the Bahrain Monetary Agency (now the Central Bank of Bahrain). His work involved him in pioneering many of Bahrain's recent innovations in Islamic banking. Whilst working at the BMA he wrote 'Islamic Banking and Finance in the Kingdom of Bahrain'. Prior to working at the BMA his banking background was acquired whilst working for the Arab Banking Corporation, also in Bahrain. He gained his earlier experience of financial markets whilst working for Citibank, American Express and Shearson Lehman. Brian graduated with an M.Sc. Econ from the London School of Economics. He has published over 100 articles in journals, business magazines and the financial press with articles in Islamic Business and Finance, The Islamic Banker, The Central Banking Journal, Euromoney, The Banker, The Securities Journal and the International Currency Review. Brian has published 13 books on banking and financial markets, including "Islamic Sukuk: A definitive Guide to Islamic Structured Finance". He is the author of over 80 case studies, including twenty which relate to recent developments in Islamic Banking. STOP PRESS Brian has recently delivered a Sukuk training course for the UK Treasury Debt and Reserves Management Team. This team has been charged with developing the principles to be applied for the UK Government to become a sovereign Issuer of Sukuk. Islamic Banking Publications Series With effect from the end of Ramadan I am launching a new series of Islamic Banking Publications. These will cover Executive briefings, Case studies, Sukuk updates, Sharia'a rulings and much, much more. Please keep an eye on my website <http://www.islamicbankingcourses.com/>www.islamicbankingcourses.com if these are of interest to you. Alternatively you can email me on <mailto:brian.kettell@islamicbankingcourses.com>brian.kettell@islamicbankingcourses.com and I will send you regular updates. Brian Kettell M.Sc. (Econ) Tel 44 207 435 4487 www.islamicbankingcourses.com Skype Brianke8555[/quote]
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